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Butterfly Collection Review

By phil
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Wow, a profit!

This is great as we took such a nasty hit with ELN.  As with the $10KX, it’s all about making a lot of little gains.  Notice how our cash runs down over the course of a month as we used it to push our callers into more premium.  When we roll to Sept, we collect money again but for now, we are poor.

I want major kudos for picking the exact price FSLR would finish on the expiration day after earnings way back on July 24th!  What a wild ride that was…  BIDU looks good, AAPL looks good and MA is also dead on.  This would have been one hell of a month if we didn’t take that damn ELN naked overnight…  Lesson learned.

Description Type Cost Basis Opened Sale Price Closed Days Gain/Loss $ %
AAPL
10 Aug 2008 175.00 AAPL PUT (APVTO) SP $ 750.00 8/13/2008 $ 1,040.00   1
$ 290.00 27.9 %
20 Sep 2008 185.00 AAPL CALL (APVIQ) LC $ 11,590.00 8/12/2008 $ 12,500.00   2
$ 910.00 7.9 %
20 Aug 2008 180.00 AAPL CALL (APVHP) SC $ 3,740.00 8/12/2008 $ 4,050.00   2
$ 310.00 7.7 %
20 Aug 2008 175.00 AAPL PUT (APVTO) SP $ 1,500.00 8/12/2008 $ 3,690.00   2
$ 2,190.00 59.3 %
20 Sep 2008 170.00 AAPL PUT (APVUN) LP $ 10,470.00 8/12/2008 $ 9,300.00   2
$ -1,170.00 -11.2 %
20 Aug 2008 175.00 AAPL CALL (APVHO) SC $ 10,200.00 8/12/2008 $ 9,530.00   2
$ -670.00 -7.0 %
20 Oct 2008 180.00 AAPL CALL (APVJP) LC $ 22,210.00 8/12/2008 $ 23,800.00   2
$ 1,590.00 7.2 %
10 Aug 2008 165.00 AAPL CALL (APVHM) SC $ 13,110.00 8/5/2008 $ 4,940.00 8/12/2008 7
$ -8,170.00 -165.4 %
4 Aug 2008 160.00 AAPL CALL (APVHL) SC $ 1,530.00 7/24/2008 $ 2,590.00 8/1/2008 8
$ 1,060.00 40.9 %
4 Aug 2008 165.00 AAPL CALL (APVHM) SC $ 1,810.00 7/23/2008 $ 2,830.00 7/24/2008 1
$ 1,020.00 36.0 %
10 Oct 2008 160.00 AAPL CALL (APVJL) LC $ 13,660.00 7/21/2008 $ 23,190.00 8/12/2008 22
$ 9,530.00 69.8 %
4 Aug 2008 165.00 AAPL CALL (APVHM) SC $ 810.00 7/21/2008 $ 3,890.00 7/22/2008 1
$ 3,080.00 79.2 %
10 Aug 2008 165.00 AAPL PUT (APVTM) SP $ 1,160.00 7/21/2008 $ 6,870.00 8/11/2008 21
$ 5,710.00 83.1 %
10 Oct 2008 170.00 AAPL PUT (APVVN) LP $ 16,030.00 7/21/2008 $ 7,500.00   24
$ -8,530.00 -53.2 %
Total Gain/Loss for AAPL
$ 7,150.00 6.6 %
BIDU
4 Aug 2008 310.00 BIDU CALL (BDUHA) SC $ 3,360.00 8/12/2008 $ 4,190.00   2
$ 830.00 19.8 %
2 Aug 2008 330.00 BIDU CALL (BDUHE) SC $ 410.00 8/6/2008 $ 1,590.00 8/11/2008 5
$ 1,180.00 74.2 %
2 Dec 2008 360.00 BIDU CALL (BPJLL) LC $ 7,530.00 8/4/2008 $ 5,240.00   10
$ -2,290.00 -30.4 %
2 Aug 2008 310.00 BIDU PUT (BDUTA) SP $ 0.00 7/25/2008 $ 690.00   20
$ 690.00 100 %
2 Dec 2008 300.00 BIDU CALL (BDULZ) LC $ 10,172.00 7/23/2008 $ 10,080.00   22
$ -92.00 -0.9 %
2 Aug 2008 330.00 BIDU CALL (BDUHE) SC $ 390.00 7/23/2008 $ 218.00 8/11/2008 19
$ -172.00 -78.9 %
2 Aug 2008 290.00 BIDU PUT (BDUTY) SP $ 750.00 7/23/2008 $ 4,274.00 7/24/2008 1
$ 3,524.00 82.5 %
2 Dec 2008 300.00 BIDU PUT (BDUXZ) LP $ 9,790.00 7/23/2008 $ 6,640.00   22
$ -3,150.00 -32.2 %
Total Gain/Loss for BIDU
$ 520.00 1.6 %
ELN
20 Oct 2008 20.00 ELN CALL (ELNJD) LC $ 7,010.00 7/30/2008 $ 100.00   15
$ -6,910.00 -98.6 %
Total Gain/Loss for ELN
$ -6,910.00 -98.6 %
FSLR
5 Sep 2008 270.00 FSLR CALL (HJQIZ) LC $ 13,160.00 7/24/2008 $ 6,850.00   21
$ -6,310.00 -47.9 %
5 Aug 2008 260.00 FSLR CALL (HJQHY) SC $ 2,250.00 7/24/2008 $ 11,640.00   21
$ 9,390.00 80.7 %
5 Aug 2008 260.00 FSLR PUT (HJQTY) SP $ 2,350.00 7/24/2008 $ 9,240.00   21
$ 6,890.00 74.6 %
5 Sep 2008 260.00 FSLR PUT (HJQUY) LP $ 13,260.00 7/24/2008 $ 9,000.00   21
$ -4,260.00 -32.1 %
Total Gain/Loss for FSLR
$ 5,710.00 18.4 %
MA
5 Aug 2008 230.00 MA PUT (MALTF) SP $ 1,100.00 8/12/2008 $ 1,990.00   2
$ 890.00 44.7 %
5 Aug 2008 230.00 MA CALL (MALHF) SC $ 3,050.00 8/8/2008 $ 3,240.00   6
$ 190.00 5.9 %
5 Oct 2008 240.00 MA CALL (MALJU) LC $ 15,660.00 7/25/2008 $ 7,600.00   20
$ -8,060.00 -51.5 %
5 Aug 2008 270.00 MA CALL (MALHX) SC $ 2,010.00 7/25/2008 $ 6,490.00 7/31/2008 6
$ 4,480.00 69.0 %
5 Aug 2008 270.00 MA PUT (MALTX) SP $ 18,610.00 7/25/2008 $ 10,365.00 8/12/2008 18
$ -8,245.00 -79.5 %
5 Oct 2008 260.00 MA PUT (MALVW) LP $ 12,360.00 7/25/2008 $ 16,600.00   20
$ 4,240.00 34.3 %
Total Gain/Loss for MA
$ -6,505.00 -12.3 %
USO
10 Aug 2008 95.00 USO CALL (IYSHQ) SC $ 1,410.00 8/6/2008 $ 6,590.00 8/8/2008 2
$ 5,180.00 78.6 %
20 Sep 2008 91.00 USO CALL (IYSIM) LC $ 14,290.00 8/6/2008 $ 14,190.00 8/13/2008 7
$ -100.00 -0.7 %
Total Gain/Loss for USO
$ 5,080.00 32.4 %
Total Gain/Loss
$ 5,045.00 2.0 %

 

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Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.

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